to expand the existing statutory duty of the Australian Broadcasting Corporation (ABC) Board by including the requirement to be ‘fair’ and ‘balanced’ in relation to the gathering and presentation of news and information by the ABC.

to: amend the Australian Broadcasting Corporation (ABC) Charter to require the ABC to broadcast programs that contribute to a sense of regional and national identity, and inform and entertain, and reflect the geographic and cultural diversity of, the Australian community; provide that the ABC Board must have two members with a substantial connection to, or substantial experience in, a regional area through business, industry or community involvement; establish a Regional Advisory Council to advise the ABC Board; and require the ABC Board to report annually on a range of additional matters, including the total number of individuals employed in regional and metropolitan areas, and the journalist to support staff ratio of employees.

to: require trustees to assess on an annual basis whether the outcomes that are being delivered by MySuper products are promoting the financial interests of MySuper members; allow the Australian Prudential Regulation Authority (APRA) to refuse, or cancel, an authority to offer a MySuper product if it has a reason to believe the registrable superannuation entity (RSE) licensee may fail to comply with its obligations; impose civil and criminal penalties on directors of RSE licensees who fail to execute their responsibilities to act in the best interests of members, or who use their position to further their own interests to the detriment of members; enable APRA to refuse authority for a change in ownership or control where it has concerns about the person seeking ownership or control, give a direction to a person to relinquish control of a RSE licensee and remove or suspend an RSE licensee where it is subject to the control of its owner; align APRA’s directions powers in relation to the superannuation industry with its broader directions powers in the banking and insurance industries; and require RSE licensees to hold annual members’ meetings;

Corporations Act 2001

and

Superannuation Industry (Supervision) Act 1993

to require superannuation funds to disclose on a semi-annual basis investments that they hold directly or through associated entities and initial investments into non-associated entities;

Financial Sector (Collection of Data) Act 2001

to provide APRA with the ability to obtain information on expenses incurred by RSE and RSE licensees in managing or operating the RSE; and